5 Dec 2011

Good week for Wall St

8:46 am on 5 December 2011

Stocks on Wall St ended little changed on Friday, but capped the best week for Wall Street in almost three years, after the unemployment rate in the United States dropped to a 2½ year low.

The Dow Jones Index slipped less than one point to close at 12,019 on Friday

The Nasdaq Composite rose less than a point to finish the week at 2627.

European shares rallied on Friday, boosted by optimism over a solution to the eurozone debt crisis at another EU summit this week.

The FTSE100 in London rose 1.2%. The index firmed 7.5% over the week - its highest weekly percentage gain since January 2009.

The CAC40 in Paris rose 1.3% and the DAX in Frankfurt rose 1.2%.

The Australian 200 Index rose 59 points, or 1.4%, to close at 4288.

The NZX 50 rose 5 points to close at 3282.

At 8.20am on Monday, the New Zeakland dollar was trading at 77.85 US cents, 76.11 Australian cents, 49.92 pence, 60.75 yen and 0.5817 euro. The Trade Weighted Index was at 68.96.

Brent crude oil was trading at $US110.53 per barrel and gold was trading at $US1746 per ounce.